AGF Investments Inc. cut its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 5.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 822,443 shares of the transportation company’s stock after selling 45,761 shares during the period. AGF Investments Inc. owned about 0.67% of Alaska Air Group worth $62,728,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Mountain Capital Investment Advisors Inc acquired a new stake in Alaska Air Group in the second quarter valued at approximately $122,000. Mercer Capital Advisers Inc. acquired a new stake in Alaska Air Group in the third quarter valued at approximately $116,000. Bessemer Group Inc. lifted its stake in Alaska Air Group by 57.9% in the second quarter. Bessemer Group Inc. now owns 1,895 shares of the transportation company’s stock valued at $171,000 after acquiring an additional 695 shares during the last quarter. Smithfield Trust Co. lifted its stake in Alaska Air Group by 8.6% in the second quarter. Smithfield Trust Co. now owns 2,391 shares of the transportation company’s stock valued at $215,000 after acquiring an additional 189 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its stake in Alaska Air Group by 8.1% in the second quarter. Pacer Advisors Inc. now owns 2,405 shares of the transportation company’s stock valued at $216,000 after acquiring an additional 181 shares during the last quarter. 88.37% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Alaska Air Group, Inc. (NYSE:ALK) opened at $65.40 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.80 and a quick ratio of 0.78. Alaska Air Group, Inc. has a one year low of $61.10 and a one year high of $101.43. The firm has a market cap of $8,047.14, a price-to-earnings ratio of 8.89 and a beta of 1.01.
Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Wednesday, October 25th. The transportation company reported $2.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.26 by ($0.02). Alaska Air Group had a return on equity of 28.74% and a net margin of 10.34%. The firm had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the firm posted $2.20 earnings per share. Alaska Air Group’s quarterly revenue was up 35.4% compared to the same quarter last year. research analysts anticipate that Alaska Air Group, Inc. will post 6.77 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Tuesday, November 21st will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Monday, November 20th. Alaska Air Group’s payout ratio is 19.26%.
A number of research firms have issued reports on ALK. Morgan Stanley reduced their target price on shares of Alaska Air Group from $101.00 to $96.00 and set an “overweight” rating for the company in a research note on Thursday, August 17th. Bank of America Corporation reduced their target price on shares of Alaska Air Group from $100.00 to $96.00 and set a “buy” rating for the company in a research note on Friday, October 13th. BidaskClub cut shares of Alaska Air Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. Cowen Inc reduced their target price on shares of Alaska Air Group from $103.00 to $100.00 and set an “outperform” rating for the company in a research note on Thursday, September 14th. Finally, Barclays PLC reiterated a “buy” rating on shares of Alaska Air Group in a research note on Thursday, September 14th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, nine have issued a buy rating and three have given a strong buy rating to the stock. Alaska Air Group presently has an average rating of “Buy” and an average price target of $91.27.
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About Alaska Air Group
Alaska Air Group, Inc is the holding company of Alaska Airlines (Alaska), Virgin America Inc, Horizon Air (Horizon) and other business units. The Company operates through three segments: Mainline, Regional and Horizon. Its Mainline segment includes Alaska’s and Virgin America’s scheduled air transportation for passengers and cargo throughout the United States, and in parts of Canada, Mexico, Costa Rica and Cuba.
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